Work Hard, Play Hard

10 credit union leaders in revenue per employee.

 
 

Employee productivity is an essential portion of the formula to maintain an efficient institution, and employee revenue generation is one factor impacting future growth. Employee compensation makes up the largest portion of the average credit union’s operational expense, yet average revenue per employee in 4Q 2010 dropped 2.93% from 2009 levels.

Economic factors certainly bit into the operational budget at many institutions, and everyone can attest to the decline in loan demand experienced during the recession. Yet many credit unions employees, as well as the executive teams and boards that support them, used the recession as an opportunity to learn how to do more with less. Often, this required transforming the front lines into an active contact point for cross-sell, and bolstering revenue generation in tandem with the development of service culture.

These 10 credit unions lead their peers in revenue per employee, as staff worked above and beyond the call of duty to bring in additional income that  strengthened both the cooperative and the membership they serve.

Revenue Per Employee, U.S Credit Unions (20M+in Assets)

Rank State Credit Union Dec-10 Dec-09 Change
1 NJ Merck Employees $1,874,113 $1,813,930 3.32%
2 NY Progressive $1,539,639 $1,604,773 -4.06%
3 NY NCPD $1,207,250 $1,188,853 1.55%
4 NY Melrose $1,127,191 $1,094,233 3.01%
5 CA Star One $1,099,304 $1,277,820 -13.97%
6 NC Local Government $946,922 $1,280,217 -26.03%
7 CA San Joaquin Power Employees $907,844 $934,402 -2.84%
8 AL Mead Coated Board $900,211 $927,365 -2.93%
9 IL Air Line Pilots Association $836,048 $1,273,592 -34.36%
10 NY Lufthansa Employees $809,487 $976,464 -17.10%
           
    Average Value for 3547 Credit Unions $226,954 $233,807 -2.93%

 

 

 

 

May 5, 2011


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